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Mr Back will take the role after having been a senior Royal Mail Group executive and chief of its European subsidiary, General Logistics Systems.

Chairman Peter Long said: "When Moya joined in the summer of 2010, the company was balance sheet insolvent.

"Since then, Royal Mail has been transformed, including our privatisation in 2013 and two significant, ground-breaking agreements with the CWU.

"Alongside the strong financial position Moya has secured for the company, we have invested over £1.5 billion in our UK operation in recent years. We are one of the most favourably viewed brands in the UK.

"I would like to extend to Moya our sincere thanks for her tremendous contribution during a defining time for us."